Luna Innovations (NASDAQ:LUNA) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of Luna Innovations (NASDAQ:LUNA) in a research report issued to clients and investors on Thursday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Luna Innovations Stock Performance

NASDAQ:LUNA opened at $2.19 on Thursday. The stock has a market capitalization of $74.37 million, a price-to-earnings ratio of -27.38 and a beta of 1.55. Luna Innovations has a 1 year low of $1.91 and a 1 year high of $7.92. The stock has a fifty day moving average price of $2.69 and a two-hundred day moving average price of $3.37.

Hedge Funds Weigh In On Luna Innovations

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hodges Capital Management Inc. acquired a new stake in Luna Innovations in the second quarter valued at $33,000. AQR Capital Management LLC acquired a new stake in Luna Innovations in the 2nd quarter valued at about $37,000. Point72 DIFC Ltd purchased a new position in Luna Innovations during the 2nd quarter valued at about $39,000. Summit Securities Group LLC acquired a new position in Luna Innovations during the second quarter worth about $45,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Luna Innovations in the second quarter valued at about $48,000. 87.46% of the stock is owned by institutional investors and hedge funds.

Luna Innovations Company Profile

Luna Innovations Incorporated provides fiber optic test, measurement, and control products worldwide. The company offers test and measurement equipment for fiber optic components and sub-assemblies; polarization control products, including components, modules, and instruments to measure, manage, and control polarization and group delay in fiber optic networks; tunable lasers; and single frequency lasers.